Guideline Value for Poes Garden

Poes Garden guideline value

The current guideline value of Poes Garden is Rs 19,800 per sq.ft, effective from 1 July 2024. This area falls under the Mylapore Part 1 village, governed by the Chennai Central Joint I SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Poes Garden has changed

Over the years, the guideline value for Poes Garden has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 18,000 per sq.ft, which increased by 10% to Rs 19,800 per sq.ft in the 2024 revision.

This increase reflects a notable change in the valuation of the property. The 2024 figure of Rs 19,800 per sq.ft is significantly higher compared to the previous year's value, indicating a substantial rise in the guideline value.

Guideline values in Mylapore Part 1

Mylapore Part 1 comprises 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Poes Garden's 2024 figure above that median.

• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 4th Street: Rs 10,900 per sq.ft (2024)
• Play Ground View Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poes Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 19,800 per sq.ft, the total guideline value amounts to Rs 1,98,00,000. The stamp duty at 7% would be Rs 13,86,000, and the registration fee at 2% would be Rs 3,96,000, resulting in a total of Rs 17,82,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Poes Garden?

The Sub Registrar Office that covers Poes Garden is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

When buying or selling property in Mylapore Part 1, the guideline value is a crucial factor in determining the stamp duty and registration fees. This value is used to assess the tax liabilities associated with the transaction, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it directly influences the costs involved in property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Poes Garden?

The current guideline value of Poes Garden is Rs 19,800 per sq.ft, effective from 1 July 2024.

How has the guideline value of Poes Garden changed over the years?

The guideline value has changed from Rs 18,000 per sq.ft in 2023 to Rs 19,800 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Poes Garden?

Poes Garden is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for Poes Garden?

The registration office for Poes Garden is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Poes Garden?

Stamp duty for properties in Poes Garden is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 17,82,000 in stamp duty and registration fees.